Nortek, Inc. Completes $750M Senior Secured Notes Offering and Refinancing

Nortek, Inc. completed a private offering of $750 million in 10% Senior Secured Notes due 2013 on May 20, 2008. The proceeds were used concurrently with a new senior secured asset-based revolving credit facility to repay all outstanding indebtedness under its previous senior secured credit facility. The company is now registering an exchange offer for these notes.

“On May 20, 2008, we completed a private offering of $750,000,000 aggregate principal amount of 10% senior secured notes due 2013, or the “outstanding notes”. This offering of the outstanding notes closed concurrently with our borrowings under a new senior secured asset-based revolving credit facility, or the “new ABL Facility”, and we used the net proceeds from these transactions to repay all of the outstanding indebtedness under our formerly existing senior secured credit facility.”

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